Good morning everyone,
I wanted to introduce myself to the forum as well as ask for some guidance. I work for a small, local shop in Southeast Florida (party of 2) under the tutelage of a broker with 15 years of experience. I joined him almost exactly a year ago, and since then he's been generous enough to put me on three of his deals in order for me to get my feet wet, at a favorable commission split.
2 out of the 3 sales we've made were REO listings that were assigned to us from an asset manager who is a close friend of my broker. One was ~ 9,500 SF of flex space and the other sale was a modest medical office suite in Jacksonville. Our range seems to be $1M-$2.5M, which works out well for me since my broker and me split the commission between us.
I'm at a point now where I should be pulling my own weight with the hunting. My broker has become a good friend to me, and I know that he needs to focus on growing the shop, recruiting more brokers, etc. I have read the posts here about cold calling, prospecting for tenant rep assignments etc. and it's something that I'm familiar with since I used to cold call ~3 hours a day when I was a residential agent (I know, I'm losing your interest now).
I can't help but feel like we have an opportunity to network with more REO asset managers, since we have previous experience with listing and selling commercial assets. I would like to prospect, cold call, and knock some doors, but if you guys can give some advice on how to go about it in a smarter way than simply pounding the same building owners everyone else is, please let me know. I experienced heavy competition cold calling in residential and it felt like a waste of time, because homeowners in my area and in this market are swamped with Realtors cold calling them on a daily basis.
Does anyone have experience with networking, and building new relationships with commercial REO asset managers? I would like to bring new listing assignments to the table.
Thank you
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